AN ACT to amend and reenact section thirteen, article sixteen-a,
chapter seventeen of the code of West Virginia, one thousand
nine hundred thirty-one, as amended, relating to continuing
the funding of the Hatfield-McCoy regional recreation
authority projects by the West Virginia parkways, economic
development and tourism authority.

Be it enacted by the Legislature of West Virginia:

That section thirteen, article sixteen-a, chapter seventeen of
the code of West Virginia, one thousand nine hundred thirty-one, as
amended, be amended and reenacted to read as follows:

ARTICLE 16A. WEST VIRGINIA PARKWAYS, ECONOMIC DEVELOPMENT AND
TOURISM AUTHORITY.

(a)(1) The parkways authority is hereby authorized to fix,
revise, charge and collect tolls for the use of each parkway
project and the different parts or sections thereof and to fix,
revise, charge and collect rents, fees, charges and other revenues,
of whatever kind or character, for the use of each economic
development project or tourism project, or any part or section
thereof, and to contract with any person, partnership, association
or corporation desiring the use of any part thereof, including the
right-of-way adjoining the paved portion, for placing thereon
telephone, telegraph, electric light, power or other utility lines,
gas stations, garages, stores, hotels, restaurants and advertising
signs, or for any other purpose except for tracks for railroad or
railway use, and to fix the terms, conditions, rents and rates of
charges for such use. Such tolls, rents, fees and charges shall be
so fixed and adjusted in respect of the aggregate of tolls, or in
respect of the aggregate rents, fees and charges, from the project
or projects in connection with which the bonds of any issue shall
have been issued as to provide a fund sufficient with other
revenues, if any, to pay: (A) The cost of maintaining, repairing
and operating such project or projects; and (B) the principal of
and the interest on such bonds as the same shall become due and
payable and to create reserves for such purposes. Such tolls,
rents, fees and other charges shall not be subject to supervision or regulation by any other commission, board, bureau, department or
agency of the state. The tolls, rents, fees, charges and all other
revenues derived from the project or projects in connection with
which the bonds of any issue shall have been issued, except such
part thereof as may be necessary to pay the cost of maintenance,
repair and operation and to provide such reserves therefor as may
be provided in the resolution authorizing the issuance of such
bonds or in the trust agreement securing the same, shall be set
aside at regular intervals as may be provided in the resolution or
the trust agreement in a sinking fund which is hereby pledged to,
and charged with, the payment of: (i) The interest upon the bonds
as such interest shall fall due; (ii) the principal of the bonds as
the same shall fall due; (iii) the necessary charges of paying
agents for paying principal and interest; and (iv) the redemption
price or the purchase price of bonds retired by call or purchase as
therein provided. The use and disposition of moneys to the credit
of such sinking fund shall be subject to the provisions of the
resolution authorizing the issuance of the bonds or of the trust
agreement. Except as may otherwise be provided in the resolution
or the trust agreement, such sinking fund shall be a fund for all
bonds without distinction or priority of one over another. The
moneys in the sinking fund, less such reserve as may be provided in
the resolution or trust agreement, if not used within a reasonable time for the purchase of bonds for cancellation as above provided,
shall be applied to the redemption of bonds at the redemption price
then applicable.(2)(A) In fiscal year one thousand nine hundred ninety-eight,
after the parkways authority has met or provided for the
satisfaction of each requirement imposed by the provisions of
subdivision (1) of this subsection, the parkways authority shall
pay two hundred fifty thousand dollars to the Hatfield-McCoy
regional recreation authority from any remaining balance of
revenues received from economic development projects and tourism
projects.(B) Upon the effective date of this act, the parkways
authority shall seek authorization from the federal highway
administration, the state department of transportation and the
trustee under any trust indenture or agreement existing as the
result of the issuance of any revenue bonds under the provisions of
this article to issue additional revenue bonds in a total amount
not to exceed six million dollars for the purpose of funding
projects of the Hatfield-McCoy regional recreation authority. Upon
the agreement of all of such entities that the parkways authority
be authorized to do so, as certified to the parkways authority, the
governor and the joint committee on government and finance, the
parkways authority is authorized to issue additional revenue bonds in a total amount not to exceed six million dollars. The proceeds
of the revenue bonds shall be used to fund projects of the
Hatfield-McCoy regional recreation authority. Each issuance of
such revenue bonds and the application of the proceeds thereof
shall be subject to each condition, restriction or other provision
of this article applicable to the issuance of parkway revenue
bonds. In the event the agreement is not certified as required by
this subsection, and until the same is certified, the parkways
authority shall pay two hundred fifty thousand dollars to the
Hatfield-McCoy regional recreation authority in the fiscal year
ending the thirtieth day of June, two thousand, and in each fiscal
year thereafter, for a total of nine consecutive years, for the
purpose of funding projects of the Hatfield-McCoy regional
recreation authority. These amounts shall be paid in quarterly
installments from remaining balances in each fiscal year of
revenues received from economic development projects and tourism
projects as determined in the manner provided in paragraph (A) of
this subdivision.(b) The parkways authority shall cause, as soon as it is
legally able to do so, all contracts to which it is a party and
which relate to the operation, maintenance or use of any
restaurant, motel or other lodging facility, truck and automobile
service facility, food vending facility or any other service facility located along the West Virginia turnpike, to be renewed on
a competitive bid basis. All contracts relating to any facility or
services entered into by the parkways authority with a private
party with respect to any project constructed after the effective
date of this legislation shall be let on a competitive bid basis
only. If the parkways authority receives a proposal for the
development of a project, such proposal shall be made available to
the public in a convenient location in the county wherein the
proposed facility may be located. The parkways authority shall
publish a notice of the proposal by a Class I legal advertisement
in accordance with the provisions of article three, chapter
fifty-nine of this code. The publication area shall be the county
in which the proposed facility would be located. Any citizen may
communicate by writing to the parkways authority his or her
opposition to or approval to such proposal within a period of time
not less than forty-five days from the publication of the notice.
No contract for the development of a project may be entered into by
the parkways authority until a public hearing is held in the
vicinity of the location of the proposed project with at least
twenty days' notice of such hearing by a Class I publication
pursuant to section two of said article. The parkways authority
shall make written findings of fact prior to rendering a decision
on any proposed project. All studies, records, documents and other materials which are considered by the parkways authority in making
such findings shall be made available for public inspection at the
time of the publication of the notice of public hearing and at a
convenient location in the county where the proposed project may be
located. The parkways authority shall promulgate rules in
accordance with chapter twenty-nine-a of this code for the conduct
of any hearing required by this section. Persons attending any
such hearing shall be afforded a reasonable opportunity to speak
and be heard on the proposed project.